Comerica Bank Increases Position in Microchip Technology Incorporated $MCHP

Comerica Bank raised its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 0.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,288 shares of the semiconductor company’s stock after buying an additional 435 shares during the period. Comerica Bank’s holdings in Microchip Technology were worth $6,695,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MCHP. MGO One Seven LLC boosted its position in Microchip Technology by 23.0% during the fourth quarter. MGO One Seven LLC now owns 4,420 shares of the semiconductor company’s stock valued at $253,000 after buying an additional 827 shares during the period. The Manufacturers Life Insurance Company boosted its position in Microchip Technology by 0.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 332,429 shares of the semiconductor company’s stock valued at $19,065,000 after buying an additional 3,030 shares during the period. Northern Trust Corp boosted its position in Microchip Technology by 4.7% during the fourth quarter. Northern Trust Corp now owns 6,958,502 shares of the semiconductor company’s stock valued at $399,070,000 after buying an additional 311,796 shares during the period. Lido Advisors LLC boosted its position in Microchip Technology by 5.5% during the fourth quarter. Lido Advisors LLC now owns 50,030 shares of the semiconductor company’s stock valued at $2,869,000 after buying an additional 2,613 shares during the period. Finally, Schonfeld Strategic Advisors LLC boosted its position in Microchip Technology by 2,089.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 209,733 shares of the semiconductor company’s stock valued at $12,028,000 after buying an additional 200,155 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on MCHP shares. Mizuho upped their price target on shares of Microchip Technology from $78.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Morgan Stanley upped their price objective on shares of Microchip Technology from $39.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Bank of America raised shares of Microchip Technology from an “underperform” rating to a “neutral” rating and set a $56.00 price objective for the company in a research note on Friday, May 9th. Piper Sandler upped their price objective on shares of Microchip Technology from $65.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Finally, B. Riley upped their price objective on shares of Microchip Technology from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $76.58.

Insider Transactions at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the completion of the transaction, the director directly owned 30,665 shares of the company’s stock, valued at $2,092,886.25. This represents a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James Eric Bjornholt sold 7,356 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the transaction, the chief financial officer directly owned 30,010 shares of the company’s stock, valued at $2,062,287.20. This represents a 19.69% decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is owned by corporate insiders.

Microchip Technology Price Performance

MCHP stock opened at $66.65 on Thursday. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $82.65. The company has a market cap of $35.97 billion, a P/E ratio of -196.03, a PEG ratio of 1.96 and a beta of 1.55. The firm has a 50-day moving average of $69.55 and a 200 day moving average of $59.07. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. Microchip Technology’s revenue was down 13.3% on a year-over-year basis. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 22nd. Microchip Technology’s dividend payout ratio is presently -535.29%.

Microchip Technology Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.